Search
 

Despite Woes, Sycamore Still Plans to Develop Campus

CHELMSFORD, MA-When Sycamore Networks bought a 100-acre parcel here for its campus headquarters, the telecommunications start-up was riding high. Since then its stock has tumbled, but the company insists its plans are proceeding as scheduled.

By Naomi Grossman | Updated on March 29, 2001

CHELMSFORD, MA-Last fall, when Sycamore Networks bought its 100-acre parcel here from Elkin McCullom the telecommunications start up–and the economy–was riding high. Over the last year, however, as numerous high-tech start ups have bit the dust, the company’s stock has tumbled from a high of $200 per share to a recent low of under $12 per share. Still, Sycamore officials insist that the plan for their campus headquarters is proceeding as planned.

“We’re obviously monitoring what is going on and responding to market conditions appropriately,” a Sycamore spokesperson tells GlobeSt.com. “We are still going ahead with developing the campus.” The spokesperson emphasizes that the company is still early in the permitting process and it is unclear when the actual construction will begin. A completion date is slated for 2004 to 2005.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.